This package contains all data used in the empirical section of the paper, along with Python files that conduct key computations.

*Excel file*

⁃ The first tab contains all data from the auction experiment.

⁃ The second tab contains data only for those subjects who never submitted dominated bids. This is the dataset that should be used when replicating the main analyses.

⁃ The third tab contains a ‘dictionary’ that provides descriptions of all variables.

*Equilibrium compilations file*

⁃ This file contains code which calculates the equilibrium predictions for both auction structures.

⁃ To run the code, download the folder (including the Excel file), install the required modules, and run the file main.py.

⁃ The results of the code are recorded in the file results.xlsl. The first column lists every possible value that a player could have. The second column specifies the bids that are bid with positive probability (in equilibrium) by a player with that particular value. The third column specifies the probabilities with which the equilibrium bids are submitted. If values are uniformly distributed, there is also a fourth column which records the predictions of an 'analogous' continuous model.

*Risk computations file*

⁃ This file calculates the equilibrium predictions for the first-price auction under the assumption that all subjects have a common risk aversion parameter.

⁃ Before running the code, first install the required modules. The results are then printed in the terminal using the ‘jump form’ representation (see the paper for details).